Strategy, previously known as MicroStrategy, has significantly expanded its preferred stock offering, aiming to fund additional Bitcoin investments. The initiative involves the pricing of 11.76 million shares of its 10% Series A Perpetual Stride Preferred Stock (STRD) at $85 each, generating approximately $979.7 million in net proceeds. The initial target was $250 million.

This strategic financial move underscores the company's commitment to increasing its Bitcoin holdings, highlighting the growing trend of institutional investments in cryptocurrencies. The expansion of the stock offering illustrates a notable step in bolstering its digital asset portfolio, a move that has become emblematic of Strategy's Bitcoin-focused approach.